Rostelecom nearing deal for full ownership of Tele2 Russia

24 Jan 2019

An unnamed source has told newspaper Vedomosti that Rostelecom is near to taking full ownership of its 45%-owned associate mobile operator Tele2 Russia, having agreed a deal with other shareholders whilst a directive approving an increase in Rostelecom’s stake to 100% has been prepared by the Federal Agency for State Property Management (Rosimushchestvo). Currently, the other 55% stake is owned via holding vehicle T2 Netherlands BV by a consortium of Russian bank VTB Group (27.5%), Invintel BV (22.0%) and ABR Investments (5.5%). TeleGeography notes that the government of the Russian Federation has a significant influence in Tele2 Russia – the country’s fourth biggest cellco by subscribers – as the ultimate controlling party of both Rostelecom and VTB Group. According to Vedomosti, Tele2 Russia is worth an estimated RUB240 billion (USD3.62 billion).

Russia, Rostelecom, Tele2 Russia